A New Industry, Up 60%, and the Future of Executive Search by Bob Jordan

Bob Jordan
Founder and CEO at interimCEOinterimCFO

A New Industry, Up 60%, and the Future of Executive Search
A Changing Landscape for Executive Talent

As companies and their boards show increasing reluctance to add big salaries or full-time major hires to their roster in uncertain financial times, a new pool of qualified talent has emerged to fill in the gaps for short-term projects, turnaround assignments, and entrepreneurial consulting needs. Meet the interim executive.

What differentiates an interim from a permanent exec?
•    Interim execs have defined contracts usually measured in months.
•    Interim execs can often produce desired results faster than their permanent counterparts.
•    Corporations assume no long-term liability for their short-term hires.

And the supply of executive talent is rich. Research by the interimCEOinterimCFO network projects 60 percent growth in the number of interim execs this year. With the goal of making executive talent-on-demand more accessible to companies in need of short-term help, the free worldwide network and association has already attracted over 2,000 C-level interim, project, and contract executives worldwide.

According to Chuck Gumbert, interim CEO and head of The Tomcat Group, “Up until now, the specialty of interim executives has been relatively unknown.”

Productivity matters in a business landscape where, according to EPOCH Partners, LLC, over 60 percent of new C-level executives fail within 16 months, after a search process that averages nine months.

“It’s not uncommon for me to talk with the board of directors, finalize on Friday night that I’m going to take over the company as CEO, sign a contract over the weekend, and start on Monday,” claims interim CEO and turnaround specialist John Collard. “We are very nimble and flexible in how quickly we can respond.”

EPOCH also notes that fewer than one in five companies is well positioned to attract and retain top talent through traditional recruiting methods. This need for non-traditional ways of sourcing talent is perhaps the main driver behind the emergence of specialized business networks like interimCEOinterimCFO. The network recently announced that it will be launching a free, open search site called mapmyTeam™ for private equity firms, corporations, board directors, and company owners who are searching for executive talent.

For interim executives as well as companies that serve as a resource to C-level executives, interimCEOinterimCFO regularly hosts webinars, conference calls, and live events, including the following upcoming breakfast meetings in: Redwood City, CA (April 23); New York City (May 7); and Chicago (May 17). To learn more, visit www.interimceo.com.

interimCEOinterimCFO is the worldwide network of executives who take on interim, contract and project work. The network serves CEOs, CFOs, COOs, CMO, CTOs, CIO, and turnaround specialists as the place to present their expertise, find new clients, and find new resources for their teams.


John Strupeck
Interim Executive with focus on restructuring manufacturing operations for European based companies

As an interim executive on his third assignment, I would add that the interim executive concept is much more accepted by European firms than in the USA. I have completed two assignments for French firms, one for a UK firm, Most recently completed a USA assignment, then was tasked by the same company to straighten out the China operation. Typically, an event occurs or is pending that requires an outside resource to resolve. It is important to note that although an interim assignment can result in a permanent position, I have found that I am most effective working with the client if he is aware that my intention is to provide the interim solution, then move on.


Bob Jordan

Great point, as we’ve also heard from members of the network. In the UK placement agencies account for one-third of interim assignments (there are no placement agencies in the US as yet). In Europe there’s a ready acceptance for interims if the division or project represents significant risk to the executive’s career. In those cases, management would far rather bring in interim resources.